On April 22, the opening ceremony of China International Fastener & Hardware Center, the biggest fastener expo sourcing center, was held in Haiyan. It is said that the project was invested by Ganglong Group with total investment of RMB1.1 billlion. Many representatives of fastener associations and companies attended this activity, such as Lao Xihua, president of GuangDong Province Fastener Association, Edward Tsui, president of Hongkong Screw & Fasteners Council, Morgan Chen, CEO of Morgan Group and Chinese American Representative of National Committee of the Chinese People's Political Consultative Conference, Cai Yonglong, president of Gem-year Group, etc.

Cai Zhiyuan, president of Ganglong Group, says the first phase of the project, a 130,000 square-meter fastener products exchange area, will be in operation by June 2008. Material market exchange program is expected to be finished in next year. He also anticipates that the overall market will have been ready by 2010, with a strong capacity of over 2200 companies.

The China International Fastener & Hardware Center will effectively integrate industrial resources in Yangtze Delta, even the whole China. Furthermore, it will drive the rapid development of related industrial chains. Many fastener entrepreneurs in Ningbo express that Chinese International Fastener & Hardware Center will become a great display and exchange platform for Ningbo fastener companies. A large number of customers show great interest in the center. More than 500 customers have signed agreement with China International Fastener & Hardware Center.

The first China (Haiyan) Fastener Technology & Foreign Trade Conference was held on the same day. The conference lasted for 2 days and closed on April 22, 4:30pm. A rough estimate says over 500 orders were finalized. The foreign business volume reached RMB300 million and the domestic business volume was about RMB800 million. Haiyan companies account for over 80% of the total deal.

The first China (Haiyan) Fastener Technology & Foreign Trade Conference 2007, organized by Haiyan County Government, China Council for the Promotion of International Trade (Zhejiang Branch) and Jiaxing Association of Fasteners Import & Export, is one of the activities of 2007 China Haiyan South-North Lake Tourism Festival. The conference included topic lecture, international fastener sourcing trend, customer requirement analysis, new technologies, new products, product display and discussion. Over 4000 fastener entrepreneurs from Hongkong, Guangdong, Wenzhou, Ningbo, Yongnian and 82 foreign fastener buyers from Spain, US, Italy, Finland, India took part in the conference and visited 100 fastener companies in Haiyan County. During the conference, 325 exhibitors and customers were having sufficient information communications and discussions.